This work analyzes the concept of randomness in binary sequences from three different perspectives: mathematically, statistically, and psychologically and examines the research on human perception of randomness and the question of whether or not humans can simulate random behavior. Generally, research shows that human subjects have great difficulty producing random sequences, even when they are instructed and motivated. We survey some of the literature and present some leading theoretical proposals. Finally, we present some basic statistical tests that can be used to evaluate randomness in a given binary sequence.